Published on 10/10/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $433,000 7.65% callable contingent income notes on indexes, ETF
By Kiku Steinfeld
Chicago, Oct. 10 – Morgan Stanley Finance LLC priced $433,000 of callable contingent income securities due Feb. 22, 2024 linked to Russell 2000 index, SPDR S&P Regional Banking ETF and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.65%, paid quarterly, if each underlier closes at or above its 60% downside threshold on the related quarterly observation date.
The securities may be called at par on any quarterly call date.
At maturity the payout will be par unless the worst performing asset closes below its 60% downside threshold in which case investors will be fully exposed to the decline of the worst performing asset.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Callable contingent income securities
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| Underlying assets: | Russell 2000 index, SPDR S&P Regional Banking ETF and S&P 500 index
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| Amount: | $433,000
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| Maturity: | Feb. 22, 2024
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| Coupon: | 7.65%, paid quarterly, if each underlier closes at or above its 60% downside threshold on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing asset closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing underlying asset
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| Call option: | At par on any quarterly call date
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| Initial levels: | $75.72 for ETF, 2,079.311 for Russell, 4,475.01 for S&P
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| Downside thresholds: | $45.432 for ETF, 1,247.587 for Russell, 2,685.006 for S&P, 60% of initial levels
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| Pricing date: | Feb. 16
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| Settlement date: | Feb. 22
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.75%
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| Cusip: | 61773QAT6
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